Jobs to be lost as Beales is closing down

Closing down signs in the shop windows at Beales

Beales Department Store in the Rochdale Exchange Shopping Centre is to close down, meaning all staff will lose their jobs and Rochdale town centre will lose one of its largest retailers.

The three-storey store had previously signalled financial difficulties and had bid for lower rent after announcing it had made losses earlier this year.

A CVA proposal was put before creditors and shareholders in an attempt to resolve the issue, which read: “If the CVA is not approved at the relevant meetings, it is very likely that the company and Beale Limited will no longer be able to trade as a going concern, which would result in the appointment of administrators.”

Today (Friday 29 April) large yellow signs went up in the shop windows to announce that the store will be closing down for good. It is believed that the store will remain open until 1 August 2016.

A member of staff said: “We’ve got three months to find a job, I don’t know what I’m going to do. We only found out yesterday that it was really happening.”

It is believed that between 55 and 60 jobs are going to be lost with the closure.

A spokesperson for Rochdale Exchange said: “We are aware of the decision that has been made to close Beales’ Rochdale store. The store is under different ownership to the Rochdale Exchange, and hence this is not a decision we have been a party to.

“Nevertheless, we hope the owners will find a suitable replacement that provides the right amenities for the local community.”

Town Centre Manager Mark Foxley said: “High streets up and down the country continue to change. It’s disappointing that Rochdale is one of the Beales’ stores set to close."

Beales chairman Stuart Lyons said: “Most of Beales’ stores are profitable. However, a minority of our stores lose money because leases agreed some years ago are no longer sustainable due to changes in the economy and local conditions.

“These legacy rents have been dragging the group down. This is a unique opportunity to restore the group to financial health.”